Verdence Capital Advisors LLC lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 7.8% during the 3rd quarter, Holdings Channel reports. The fund owned 82,945 shares of the financial services provider’s stock after selling 6,996 shares during the quarter. JPMorgan Chase & Co. comprises 1.4% of Verdence Capital Advisors LLC’s portfolio, making the stock its 7th largest holding. Verdence Capital Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $17,490,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. BCGM Wealth Management LLC lifted its stake in shares of JPMorgan Chase & Co. by 2.8% in the 1st quarter. BCGM Wealth Management LLC now owns 19,061 shares of the financial services provider’s stock valued at $3,818,000 after purchasing an additional 516 shares during the last quarter. Accredited Investors Inc. boosted its stake in JPMorgan Chase & Co. by 4.9% during the second quarter. Accredited Investors Inc. now owns 14,174 shares of the financial services provider’s stock worth $2,867,000 after buying an additional 667 shares during the period. Bleakley Financial Group LLC increased its position in shares of JPMorgan Chase & Co. by 1.4% during the first quarter. Bleakley Financial Group LLC now owns 87,063 shares of the financial services provider’s stock valued at $17,439,000 after acquiring an additional 1,173 shares during the last quarter. Sunburst Financial Group LLC raised its stake in shares of JPMorgan Chase & Co. by 5.0% in the 2nd quarter. Sunburst Financial Group LLC now owns 5,651 shares of the financial services provider’s stock valued at $1,143,000 after acquiring an additional 268 shares during the period. Finally, Sageworth Trust Co lifted its holdings in shares of JPMorgan Chase & Co. by 37.9% in the 3rd quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock worth $603,000 after acquiring an additional 786 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.
Analysts Set New Price Targets
A number of analysts have issued reports on JPM shares. Baird R W lowered JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Morgan Stanley downgraded JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $220.00 to $224.00 in a report on Monday, September 30th. Royal Bank of Canada increased their target price on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Oppenheimer lifted their target price on JPMorgan Chase & Co. from $232.00 to $241.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Finally, Daiwa Capital Markets cut their price target on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Hold” and a consensus target price of $224.31.
View Our Latest Stock Report on JPMorgan Chase & Co.
JPMorgan Chase & Co. Price Performance
JPM stock opened at $241.24 on Thursday. The business has a 50 day moving average price of $217.92 and a 200 day moving average price of $209.11. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. The stock has a market cap of $679.17 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 3.48 and a beta of 1.10. JPMorgan Chase & Co. has a fifty-two week low of $146.52 and a fifty-two week high of $248.00.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last issued its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.02 by $0.35. The company had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the company posted $4.33 earnings per share. Equities research analysts anticipate that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.
JPMorgan Chase & Co. Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were given a $1.25 dividend. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Friday, October 4th. This represents a $5.00 annualized dividend and a yield of 2.07%. JPMorgan Chase & Co.’s dividend payout ratio is 27.82%.
JPMorgan Chase & Co. Company Profile
(Free Report)
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.
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